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Fifth Third Bancorp (FITB) FY2018 results: revenue $6.9 billion, down 1.3% on the year

Fifth Third Bancorp (FITB) reported revenue of $6.9 billion for fiscal 2018, the year ended 31 December 2018, down 1.3% on the year before. Net income was $2.2 billion, up 0.6%, and diluted earnings per share $3.06. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.

Revenue
$6.9 billion
-1.3% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$2.2 billion
+0.6% on the year
FY2011FY2018
Diluted EPS
$3.06
+8.9% on the year
FY2011FY2018

this yearthe year beforeHover a bar for its figure.

The year in brief

Income statement (profit and loss)

$ millionFY2018FY2017FY2016On the yearLast 8 years
Revenue6,9307,0226,311-1.3%
Interest expense1,043691578+50.9%
Pre-tax income2,7652,9792,208-7.2%
Income tax572799665-28.4%
Effective tax rate20.7%26.8%30.1%
Net income2,1932,1801,543+0.6%
Net margin31.6%31.0%24.4%
Diluted EPS$3.06$2.81$1.93+8.9%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2018FY2017FY2016On the yearLast 8 years
Operating cash flow2,8561,4802,091+93.0%
Capital expenditure192200186-4.0%
Free cash flow2,6641,2801,905+108.1%
Cash from investing-4,141428n/a
Cash from financing1,452-1,786n/a
Depreciation and amortisation360341453+5.6%
Share-based compensation127118111+7.6%
Buybacks1,4531,605661-9.5%
Dividends paid467430402+8.6%
Dividend per share$0.74$0.60$0.53+23.3%
Diluted shares, weighted685m741m764m-7.5%
Shares outstanding at period end647m694m750m-6.8%

Balance sheet

$ millionFY2018FY2017FY2016On the yearLast 8 years
Shareholders' equity16,25016,20016,205+0.3%
Non-controlling interest0.020.027.0
Deposits108,835103,162103,821+5.5%
Debt16,92419,09018,055-11.3%
Other liabilities4,0603,7214,069+9.1%
Total liabilities and equity146,069142,193142,177+2.7%
Fixed assets1,8612,0032,065-7.1%
Goodwill2,4782,4452,416+1.3%
Intangible assets40.027.09.0+48.1%
Securities held for sale or to maturity18.024.026.0-25.0%
Loans94,16290,77490,845+3.7%
Trading assets287492410-41.7%
Cash and equivalents2,681n/an/a
Other assets44,54246,42846,406-4.1%
Total assets146,069142,193142,177+2.7%

10-K for the year ended 31 December 2018, filed 1 March 2019: the filing.